Dynamatic Technologies hits record high on institutional buying

Shares of Dynamatic Technologies were trading higher by 5% to Rs 3,960, extending its previous day’s 13% rally on the National Stock Exchange (NSE), after Goldman Sachs and HDFC Mutual Fund bought stake of the company through open market.

On March 25, 2015, Goldman Sachs India Fund purchased 157,179 shares of Dynamatic Technologies at an average price of Rs 3,550 per share, while HDFC Prudence Fund acquired 130,000 shares at Rs 3,723.70 per share on the NSE, the bulk deal data shows.

Meanwhile, Citigroup Global Markets Mauritius Private Limited sold 300,000 shares at an average price Rs 3,616.68 per share, data shows.

The stock opened at Rs 3,930 and touched a record high of Rs 4,037 on the NSE. A combined 51,481 shares changed hands on the counter on the NSE and BSE till 1250 hours.

Meanwhile, in past one-month the stock rallied 38% compared with 2.8% fall in the benchmark CNX Nifty.